Mexico’s Pemex will receive additional fiscal benefits from the government as part of a series of measures to bolster its finances during the oil price rout, the state-owned oil and gas firm said late Monday. The series of measures totaling 113 billion pesos ($4.55 billion) include reduction of Pemex’s 2020 investment budget by 40 billion pesos, and focus on low-cost production fields, according to a letter from the company’s CEO and CFO to investors. Pemex also said the government was granting it a 65 billion-peso tax benefit for the remainder of 2020 that will allow it to reduce its tax burden. “Due to the increase in production from our new oil fields, where production costs are below $5/b we will be able to […]